Terms Used In Virginia Code > Title 64.2 > Subtitle IV > Part C > Chapter 17 - Appointment of Guardian

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authorized delegate: means a person designated or appointed by a licensee to sell money orders or provide money transmission services on behalf of the licensee. See Virginia Code 6.2-1900
• Business: means any type of corporation, partnership, limited liability company, association, or sole proprietorship operated for profit. See Virginia Code 2.2-4301
• Commission: means the State Corporation Commission. See Virginia Code 6.2-100
• Commissioner: means the Commissioner of Financial Institutions. See Virginia Code 6.2-100
• Construction: means building, altering, repairing, improving or demolishing any structure, building or highway, and any draining, dredging, excavation, grading or similar work upon real property. See Virginia Code 2.2-4301
• Construction contract: means a contract relating to the construction, alteration, repair, or maintenance of a building, structure, or appurtenance to such building or structure, including moving, demolition, and excavation connected with such building or structure, or any provision contained in any contract relating to the construction of projects other than buildings. See Virginia Code 2.2-4347
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Decedent: A deceased person.
• Entity: means any corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
• Goods: means all material, equipment, supplies, printing, and automated data processing hardware and software. See Virginia Code 2.2-4301
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Licensee: means a person licensed under this chapter to engage in the business of selling money orders or the business of money transmission, or both. See Virginia Code 6.2-1900
• Monetary value: means a medium of exchange, whether or not redeemable in money. See Virginia Code 6.2-1900
• Money order: means a check, traveler's check, draft, or other instrument for the transmission or payment of money or monetary value whether or not negotiable. See Virginia Code 6.2-1900
• Money transmission: means receiving money or monetary value for transmission by wire, facsimile, electronic means or other means or selling or issuing stored value. See Virginia Code 6.2-1900
• Money transmitter: means a person engaged in the business of money transmission. See Virginia Code 6.2-1900
• Month: means a calendar month and "year" means a calendar year. See Virginia Code 1-223
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Payment date: means either (i) the date on which payment is due under the terms of a contract for provision of goods or services or (ii) if such date has not been established by contract, (a) 30 days after receipt of a proper invoice by the state agency or its agent or 45 days after receipt by the local government or its agent responsible under the contract for approval of such invoices for the amount of payment due or (b) 30 days after receipt of the goods or services by the state agency or 45 days after receipt by the local government, whichever is later. See Virginia Code 2.2-4347
• Person: means any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or other legal or commercial entity. See Virginia Code 6.2-100
• Personal estate: includes chattels real and such other estate as, upon the death of the owner intestate, would devolve upon his personal representative. See Virginia Code 1-233
• Personal representative: includes the executor of a will or the administrator of the estate of a decedent, the administrator of such estate with the will annexed, the administrator of such estate unadministered by a former representative, whether there is a will or not, any person who is under the order of a circuit court to take into his possession the estate of a decedent for administration, and every other curator of a decedent's estate, for or against whom suits may be brought for causes of action that accrued to or against the decedent. See Virginia Code 1-234
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Probate: Proving a will
• Professional services: means work performed by an independent contractor within the scope of the practice of accounting, actuarial services, architecture, land surveying, landscape architecture, law, dentistry, medicine, optometry, pharmacy or professional engineering. See Virginia Code 2.2-4301
• Public body: means any legislative, executive or judicial body, agency, office, department, authority, post, commission, committee, institution, board or political subdivision created by law to exercise some sovereign power or to perform some governmental duty, and empowered by law to undertake the activities described in this chapter. See Virginia Code 2.2-4301
• Registry: means the licensing and registration system operated by the State Regulatory Registry LLC. See Virginia Code 6.2-1900
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Services: means any work performed by an independent contractor wherein the service rendered does not consist primarily of acquisition of equipment or materials, or the rental of equipment, materials and supplies. See Virginia Code 2.2-4301
• State agency: means any authority, board, department, instrumentality, institution, agency, or other unit of state government. See Virginia Code 2.2-4347
• Stored value: means monetary value that is evidenced by an electronic record. See Virginia Code 6.2-1900
• Subcontractor: means any entity that has a contract to supply labor or materials to the contractor to whom the contract was awarded or to any subcontractor in the performance of the work provided for in such contract. See Virginia Code 2.2-4347
• Testator: A male person who leaves a will at death.